Tag Archives: 爱上海CY

Vietnam is the ‘favorite’ story for fund managers seeking growth

first_imgVietnamese stocks are some of the world’s most battered this year, yet market watchers are backing a turnaround.They’re pointing to valuations that haven’t been this cheap since 2017 and an economy that’s been growing 5 percent or more each year for two decades. The nation’s benchmark gauge has almost completely erased its 2019 returns and now trades at about 12 times estimated earnings over the next year.Concerns about trade and supply-chain disruptions due to the coronavirus have already wiped off more than 6 percent from the VN Index this year. With China delaying the reopening of land borders and travel restrictions, Vietnam expects industries related to tourism, agriculture, textiles and machinery to be hit hard. But analysts so far have remained positive, projecting that the nation’s companies will manage to post record earnings. “Vietnam is still one of my favorite countries in terms of growth prospects, valuations and dividend yield,” said Federico Parenti, a fund manager at Sempione Sim SpA in Milan. “I will surely add more shares once it will be more clear how the situation will evolve.”Many acknowledge earnings for the quarter ending in March will take a hit as visas for Chinese tourists — which account for about a third of the total arrivals — got halted, while meetings and festivals were canceled to avoid the spread of the virus.Even though foreigners have pulled US$5.3 million from Vietnamese equity funds this year, that’s much less than the outflows from peers such as Thailand, Indonesia or the Philippines. And while the Vietnamese equity index is still 25 percent below its 2018 peak, it’s proved to be resilient in the long run. Since 2012, it has rallied every year except one.The recent sell-off is presenting “interesting value opportunities” in transport, energy and consumption, said Andrew Brudenell, the manager of a frontier-markets fund for Ashmore Group Plc. Ruchir Desai, a fund manager at Asia Frontier Capital Ltd., also likes travel-related stocks.Vietnam remains one of the fastest growing economies in Asia, with an expansion rate of 7 percent for 2019, according to official data. While the government said it may slow to under 6 percent in 2020, that still places Vietnam above most countries. Investors also see the market as one of the biggest beneficiaries of a shift in supply chains away from China.Vietnam Asset Management expects the ratification earlier this month of a free-trade agreement with the European Union to also have a “significantly positive” impact on the nation’s economy. Ngo The Trieu, chief investment officer of Eastspring Investments in Vietnam, says the revision of the country’s securities law and launch of new indexes will further grow the nation’s equity market.“Sectors that directly capture the growth drivers of the domestic economy” will generate value for long-term investors, he said.Topics :last_img read more

Baseball salvages a game against UC Santa Barbara

first_imgFresh off a series win against Cal and an early-week victory against Cal State Fullerton, baseball rode a three-game winning streak into its series against No. 17 UC Santa Barbara on Saturday.After dropping the first two contests at Caesar Uyesaka Stadium, the Trojans returned to Los Angeles on Saturday trying to avoid a sweep in the series finale. They defeated UCSB 9-5.Redshirt junior Joe Navilhon was sharp in his second start of the season. The righty gave up 2 runs in his first three innings of work but then settled down, shutting out the Gauchos across the next three frames. He exited after the longest start of his career with one out in the seventh and a 9-2 lead. Junior Jeff Paschke entered in relief and gave up a 2-run triple, completing Navilhon’s line.“Joe picked us up today,” head coach Dan Hubbs said. “He minimized [the damage]. He didn’t let innings be big innings. Everything was small.”Navilhon is still in the process of adjusting to his new role in the rotation after spending the early years of his Trojan career in the bullpen, but he was comfortable starting on the mound on Saturday.“I felt pretty strong as the game went along,” Navilhon said. “I wish I could have finished that seventh inning, but I knew my teammates were going to come in and get the job done if I didn’t.”Senior center fielder Timmy Robinson led the way for the Trojan bats, belting 2 long homers and driving in 5. The first four hitters in the USC lineup accounted for all of the RBIs, as senior AJ Ramirez, redshirt junior David Edson and junior Jeremy Martinez combined to drive in the remaining 4 runs in the Trojans’ victory.“Everybody did their part,” Robinson said. “It was a great team win. We had people consistently getting on base, which is what makes for all those RBIs.”Hubbs agreed with his slugger.“Up and down the lineup, we had good at-bats,” Hubbs said.The win brought USC back to .500 at 11-11 on the season and it salvaged a tough three-game set, which had not gotten off to a good start in Santa Barbara. The Trojans fell 10-1 on Thursday, as senior Brent Wheatley took the ball for the series opener.The veteran right-hander struggled, scattering eight hits and three walks across five innings of work and giving up 5 runs (4 earned).  Sophomore Mason Perryman and redshirt freshman Bryce Dyrda came on in relief combining to also give up 5 runs in two innings. USC’s bats were kept silent all night, as sophomore Shane Bieber worked seven strong innings for the Gauchos, giving up just one run en route to a comfortable fourth win of the season.Sophomore Brad Wegman toed the rubber on Friday, and the offense staked him an early lead with runs in the first and third innings. Wegman began to labor in the fourth, however, and departed with one out in the fifth inning after giving up 3 runs — 4 earned, the last on another costly USC error. The Trojans were blanked across the remaining frames, losing the game, 5-2, and the series.“[UCSB] did a really good job over the first two days,” Hubbs said. “They played good defense, they didn’t give us any free passes and they kept the ball down.”Hubbs said the team is at its best when players don’t try to do too much, but he admitted they had begun to press in Santa Barbara.“We got a little bit frustrated during the first two days because they pounded the zone below the knees, and we gave them too much,” he said. “[On Friday], we only gave up three hits, but then we gave them 5 runs.”Hubbs and company will hope that Saturday’s positives are a springboard into the upcoming grind of conference play.“We still have a lot of season left,” Robinson said. “Hopefully we can carry on.”Next up for USC is Loyola Marymount, as the Lions visit Dedeaux Field on Tuesday night.  The two sides met at LMU in February, with the Trojans taking a close 4-3 victory.  USC will then head north for a series on the road against Stanford.last_img read more

Tipp in the hat for Hurling & Football qualifier draws

first_imgThe Round 2B draw in the football qualifiers also takes place this morning with Tipp set to face either Wexford, Carlow, Offaly or Fermanagh.Both draws are expected just after 8.30am. Tipperary’s Senior hurlers will this morning find out who their opposition will be in the qualifiersThey will face either Dublin, Kilkenny, Westmeath or Offaly next Saturday evening.Tipp manager Michael Ryan says despite the Premier’s poor start to the season, it’s been a great Championship so far.last_img